If you did not know already, the moratorium starts on 7th July. Depending on when you read this article it may be today or it may have been a few days before. This moratorium is for 6 months and is applicable to all individuals, whether you are under theB40, M40 or T20. So, yes, even if you do not actually need the moratorium, as long as you apply, the bank will have to approve.
Best part is this. For everyone, no supporting documentation is required. This is also the same for all microenterprises. Meanwhile, All SMEs who are adversely affected by the pandemic, you only need to do one extra thing. Just a self-declaration is needed. The only catch is that this moratorium is NOT automatic. One would need to apply if one wants this moratorium.
If you have a home loan and your monthly mortgage is RM1,600 and you are renting it out for RM1,600 as well, it means you do not need to pay your RM1,600 (which is a savings) and you get rental of RM1,600. Thus, every month one could save an extra RM1,600 + RM1,600 = RM3,200. 6 months later, you have an extra RM19,200 to use as you wish.
List of Banks’ Repayment Assistance Pages
Below is the list of banks’ websites with details on their Repayment Assistance packages.
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